Insurance on exchange?

[owmivmen]

Hey .. I want to ask about the crypto exchange place. If the crypto exchange is hacked, what is the fate of crypto users who put their assets in exchange? Will they lose their coins forever?

[Master107]

To refunds is the best thing to do in order to maintain the integrity. For example:

Hacked Japanese cryptocurrency exchange Coincheck refunds


Virtual currency exchange Coincheck said Tuesday it had refunded more than $440 million to customers following the recent hack of its systems, which was one of the largest thefts of its kind.

The company said it used its own funds to reimburse about ¥46.6 billion ($440 million) to all 260,000 customers who lost their holdings of NEM, a leading cryptocurrency.


Article History written on March 13, 2018
https://www.japantimes.co.jp/news/2018/03/13/business/corporate-business/hacked-japanese-cryptocurrency-exchange-coincheck-refunds-customers/#.W5aVcPkRX2w

[Speaker]

With a high probability you will lose all funds.Although there have been cases when people with good lawyers return their funds, but this is the exception rather than the rule.

[Bica]

Crypto-users are risky guys) If the exchange is hacked, you can say goodbye to your funds.

[poshare]

Hey .. I want to ask about the crypto exchange place. If the crypto exchange is hacked, what is the fate of crypto users who put their assets in exchange? Will they lose their coins forever?

There were some cases, when popular exchanges made refunds fully or partially. But it's better to think the assets on exchange are not yours.

[alltalk]

Hey .. I want to ask about the crypto exchange place. If the crypto exchange is hacked, what is the fate of crypto users who put their assets in exchange? Will they lose their coins forever?

I think it depends on the policy of an exchange, some exchanges will refund the client assets. So, we don't worry to lose our asset when we put it in an exchange. But I don't know about other exchanges, there is a possibility that they won't refund our assets.

[Purwodadi]

yes it's true that if there are people who hack our coins then we can be sure we will lose the coins we have, and I think insurance can be a solution.

[OKI AL AZIZ]

if I prefer to buy in the market, because it is better to enter the market, if I buy it at ico high risk. buy at ico the risk of loss is very large, because not necessarily enter the market or not.

[TERMINO]

Once it was hacked there will have serious shortage of money. This is very serious issue to deal because exchange is not just a thousands of dollars rather it is millions of dollars or it can be billion. The owner and the team is the responsibility to manage properly every single details.

[PhiliPPs]

To refunds is the best thing to do in order to maintain the integrity. For example:

Hacked Japanese cryptocurrency exchange Coincheck refunds


Virtual currency exchange Coincheck said Tuesday it had refunded more than $440 million to customers following the recent hack of its systems, which was one of the largest thefts of its kind.

The company said it used its own funds to reimburse about ¥46.6 billion ($440 million) to all 260,000 customers who lost their holdings of NEM, a leading cryptocurrency.


Article History written on March 13, 2018
https://www.japantimes.co.jp/news/2018/03/13/business/corporate-business/hacked-japanese-cryptocurrency-exchange-coincheck-refunds-customers/#.W5aVcPkRX2w

Wow ... This is a fair act, given the situation, especially since the profit of this exchange is probably not small and they can afford it!

[tamango]

Some exchanges refunds (big ones normally), others not... there is no fixed rules that's one of main reason not to leave your coins on exchange after trading.

[ayatoslaw]

depends bro, does the founder of the exchanger want to compensate or not? because in some cases, the exchanger whose site is hacked will experience bankruptcy if it doesn't have enough savings. So those who have an exchanger site must really have a great system operator and have the ability to kick hackers.

[Bobcrypto]

Yeah, i think is also better if all consider a refund after hacked. Nevertheless, it will be the best idea if all exchanges come on with good insurance policies to safeguard people investment in the event of a hack situations. A campaign concerning this insurance stuff are highly welcome, because it may greatly boost the peace of mind of all that are involveed in cryptocurrency business.

[levyashin]

If a good exchange they always pay your tokens back.

If a bad one, you are probably doomed.